The Ethereum network is experiencing an unprecedented surge in adoption, with over 447,000 new holders joining the blockchain in a single day. This record-breaking figure signifies a major turning point for the cryptocurrency market and is expected to restore investor confidence.
In a 24-hour period, Ethereum recorded 447,000 new holders, surpassing a seven-year-old record. This figure significantly exceeds the previous mark of 351,000 active addresses. Data from Glassnode indicates that the daily average of new wallet openings has now surpassed 300,000 addresses.
On-chain activity further reveals a substantial increase in transactions, demonstrating the real-world utilization of the Ethereum network. This suggests a renewed interest from investors in ETH as decentralization strengthens and confidence in the blockchain solidifies.
According to numerous cryptocurrency analysts, the rise in active addresses underscores the protocol's vitality and its crucial role within the decentralized ecosystem.
Ethereum Price Breaks Free After Two Months of Stagnation
Following a period of nearly two months of limited movement, Ethereum's price has finally broken through its resistance levels. The ETH token is currently trading around $3,317, surpassing the key support level of $3,287. Technical analysis confirms a breakout from a bullish triangle pattern, projecting a potential target of $4,240, which represents a significant increase of 29%.
Short-term holders, who are currently experiencing losses, are contributing to reduced selling pressure. The STH-NUPL indicator remains within the capitulation zone, which helps to limit sales and support price progression. This situation bolsters the argument for a sustainable bull rally, further reinforced by the influx of new investors.
With this record in adoption, Ethereum is increasingly asserting its position as the foundational pillar of Decentralized Finance (DeFi). If this trend continues, the network is poised to enter a new phase of growth and solidify its standing at the forefront of the cryptocurrency market.